Shares of Zogenix, Inc. (NASDAQ: ZGNX) clipped a new 52-week high earlier today after the company said its ZX008 for Dravet Syndrome (DS) met its primary endpoint in a phase 3 trial. ZX008 is designated as an orphan drug in both the U.S. and Europe, and it has received Fast Track designation in the U.S. for the treatment of DS. “On behalf of everyone at Zogenix, I would like to extend my sincere appreciation to the patients, families and investigators involved in this study. We are extremely pleased with the top-line efficacy and safety results from Study 1 which reinforce the potential of ZX008 to be an important new treatment for seizure control in children with Dravet syndrome. We look forward to presenting further data in future publications and at medical conferences,” Stephen J. Farr, Ph.D., president and CEO of Zogenix, stated in the news release. “We expect top-line results from our second pivotal Phase 3 trial, Study 1504, which is nearing full enrollment, in the first half of 2018. We remain on track to submit applications for regulatory approvals in the U.S. and Europe in the second half of 2018.” Mizuho Securities reaffirmed its ‘Buy’ rating and PT of $28 for Zogenix, noting the positive trial results. Shares of Zogenix are currently trading at $30.56 in a 52-week range of $7.50-$31.45.
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About Zogenix
Zogenix (Nasdaq: ZGNX) is focused on developing therapies for patients with rare central nervous system (CNS) conditions that have limited or no treatment options but face a critical need. For more information, visit www.zogenix.com
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